510 S Louis Tittle Ave · Mangum, OK 73554

$69,000

2 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 33 Days on market

Built 1960 0.39 ac lot Est $77k · 10% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +12.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Appreciation +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

If you are in the market for a reliable investment property, take a look at this rare multi-family gem in Mangum, OK sitting just 25 miles from the steady rental demand of Altus Air Force Base. As one of the few multi-family properties in the area, this duplex offers a competitive advantage in that both sides are rented. This proven performance provides immediate, turn-key cash flow from day one. Duplex featuring two - 2 bedroom, 1 bathroom apartments with monthly income of $900.00 (2 x $450). Each unit consisting of 1064 sq. ft. for a total of 2,128 sq. ft. Each apartment provides a large living room. The kitchen features ample cabinet and counter space with a large dining area. Each unit

Key facts

• Turn-key cash flow
• Large living room
• Rented duplex

Tags

• MULTI-FAMILY GEM
• RENTED DUPLEX
• TURN-KEY CASH FLOW
• LARGE LIVING ROOM
• AMPLE CABINET SPACE
• LARGE DINING AREA

Property features AI

Finance

• Other: Occupied by tenants (leased); Living area reported as 2,128 (assessor)
• Financial info: Gross income reported: $900; Listing offered in as-is condition; acceptable financing: Cash or Conventional
• HOA & community: No mandatory association dues

Exterior

• Parking: Gravel parking; Parking for 4 vehicles
• Utilities: No flood insurance required (per listing)
• Home design: One-story; Residential income property (duplex); Existing property
• Construction: Frame construction; Metal roof; Conventional foundation; Built (existing)
• Exterior features: Interior lot

Interior

• Kitchen: Range
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Floor furnace
• Interior features: Refrigerator; Warming drawer; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($962 rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 7.7% in Mangum — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#144 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Mangum (town): math 27% / reading 28% proficiency, ranked #89 of 270 in OK (top 33%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Edison Es (math 47% / reading 32%, grade F, #107 of 845 statewide, top 14%, 239 students, 0% FRL); Mangum Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 175 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 46 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-2.5%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Greer County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.5% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $20k; list at $69k implies a 245% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.16%
• DSCR: 1.94
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $76,608
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
313 N Colorado Ave	0.71mi	2/1.0	1,054 (-1%)	8mo	$16,000	$15	59
315 W Filmore St	0.75mi	2/1.0	1,042 (-2%)	12mo	$75,000	$72	52
507 E Cleveland St	0.72mi	3/2.0 (+1)	1,116 (+5%)	12mo	$149,250	$134	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 1.63×
• Total profit: $12,081
• Equity at exit: $11,972

10-year hold

• IRR: 22.9%
• Equity multiple: 3.06×
• Total profit: $39,756
• Equity at exit: $8,900

Cash invested: $19,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 73554

• Home prices YoY: -2.7%
• Active inventory: 46
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $962 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$29 /mo · $348/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $341

Break-even live

Break-even rent $531

Max offer price $69,000

Occupancy floor 60%

Sensitivity live

Price	-10% $380	-5% $360	+0% $341	+5% $321	+10% $302
Rent	-10% $265	-5% $303	+0% $341	+5% $379	+10% $417
Rate	-1.0pp $375	-0.5pp $358	base $341	+0.5pp $323	+1.0pp $305

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-13
   status Pending
2. 2026-03-10
   listed $69,000 Active
3. 2025-10-12
   historical
4. 2025-07-17
   price $58,000
5. 2025-05-22
   price $59,000
6. 2024-10-29
   listed $64,000 Active
7. 2015-05-18
   soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $348 · $29/mo
• Projected year-2 tax: $621 · $52/mo
• Expected delta: +$273/yr (+$23/mo · 78.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,549
• − Mortgage interest: −$3,865
• − Property taxes: −$348
• − Insurance: −$345
• − Repairs & maintenance: −$924
• − Management: −$924
• − Depreciation: −$2,007
• Taxable income: $3,136
• Est. tax owed @ 24.0%: −$753
• After-tax cash flow: $3,336/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mangum
• NCES district ID: 4018780
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 28% ▼ -15.00%
• Median HH income: $36,568
• Composite: 22.85/100
• National rank: #8012
• State rank: #89 of 270 in OK

Livability — Mangum

• Score: 65/100
• State rank: #144
• US rank: #13248

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment F Housing A+ Health & safety B User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mangum, OK
• Population (ZIP): 3,361

Population outlook (Greer County) Hauer SSP2

• Today (2025): 5,904 people
• By 2030: 5,869 · -0.6%
• By 2040: 5,790 · -1.9%
• By 2050: 5,712 · -3.3%
• By 2075: 5,196 · -12.0%
• By 2100: 4,326 · -26.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 8% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Iranian 2% Serbian 2% Slovak 1%
• Foreign-born: 1% · China, Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Greer

• 2024 margin: Solid R (+65.7) · D 16.6% · R 82.3% · Other 1.1%
• 2008→2024 swing: -19.3pp toward R · 2008: -46.5pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+64.7 2016: R+61.1 2012: R+46.7 2008: R+46.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.45%
• Current HPI: 88.9252
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+245.0% since first listed

7 events — show timeline

• 2026-04-13 Pending — MLSOK
• 2026-03-10 Listed $69,000 MLSOK
• 2025-10-12 Listing Removed — MLSOK
• 2025-07-17 Price Changed $58,000 MLSOK
• 2025-05-22 Price Changed $59,000 MLSOK
• 2024-10-29 Listed $64,000 MLSOK
• 2015-05-18 Sold (Public Records) $20,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $348 · +3.9% YoY. Source: county tax records.